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Liability is confined to compensation of the direct loss or damage sustainedand is limited to the amount of the Contract price. However, Contractorshall be liable without limitation in case of wilful causing of the damage.Contractor claims for damage, irrespective of the legal basis, are excluded.Contractor is not liable for indirect or consequential damage, such as loss ofprofit, production outages and losses etc.14.5. Good Faith.The Parties undertake to act in good faith with respect to each other’s rightsunder this Contract and to adopt all reasonable measures to ensure therealization of the objectives of this Contract.14.6. Operation of the Contract.The Parties recognize that it is impractical in this Contract to provide forevery contingency which may arise during the life of the Contract and theParties hereby agree that it is their intention that this Contract shall operatefairly as between them and without detriment to the interest of either ofthem and that, if during the term of this Contract either Party believes thatthis Contract is operating unfairly, the Parties will use their best efforts toagree on such action as may be necessary to remove the cause of causes ofsuch unfairness, but no failure to agree on any action pursuant to thisClause shall give rise to a dispute subject to provisions in accordance withArticle 12 hereof.14.7. Good Performance Letter of Guarantee.Together with the signed Contract the Contractor delivered to the Client theGood Performance Letter of Guarantee reg. No/Date: ………......…………….issued by the Bank ……………………………….….. covering an amount of………………………………………………………….………………………………………………..………………………..…… Euros (10% of the valueof the Contractor’s financial offer).If no contrary special term is included in this Contract, and no reason existsfor its forfeiture, the said Letter will be returned, to the Bank it was issuedfrom, upon the delivery and approval of deliverables as described in Article3 of the present contract specimen and upon Contractor’s request after fulland complete fulfilment of all without exception his contractual obligationsand after the final clearance of the accounts.«Approval», as used in this contract, shall be limited to ensuring that theservices where satisfactorily performed in accordance with the terms of thiscontract. Approval will be given by the authorised representatives of PPCS.A. in writing within 10 working days from date of submission of invoices.14.8. Penalty ClausesIrrespective of and in addition to the rights of PPC S.A. arising from theGeneral Terms, the Contractor is obliged, without any objectionswhatsoever, to pay to PPC S.A. as an agreed penalty clause, for everywhole day of delay of delivering the deliverables according to the timeschedule set in Article 5 hereinabove, that arises from non compliance withthe terms of the Contract, a sum equal to zero point five per cent (0,5%) of47/53